Bombay Dyeing hikes by 2.85 pc at Rs 715 on BSE

Mumbai, Feb 20 (UNI) Textile major Bombay Dyeing and Manufacturing Limited today increased by 2.85 per cent to close nearly at Rs 715.70 on BSE on reports of its plans to invest Rs 60 crore over the next two to three years to open 100 company managed stores.

Meanwhile, BSE Sensex went down by 427.51 points or 2.37 per cent to 17,648.15, on weak cues from the global markets, a leading broker told UNI. On BSE, 80,462 shares were traded in the counter. The scrip had an average daily volume of 1.54 lakh shares in the past one quarter.

The stock hit a high of Rs 722 and a low of Rs 680 so far during the day. The stock had a 52-week high of Rs 1,019.25 on January 18, 2008 and a 52-week low of Rs 433.10 on March 8, 2007.

The Company's current equity is Rs 38.61 crore. Face value per share is Rs 10. The proposed new bed and bath concept stores mark a significant step in the Company's overall retail expansion plans, providing an entirely new bed and bath shopping experience with over 500 designed beds, bath merchandise and a variety of collection to choose from, a company spokesperson said.

The Company is also planning to extend its network to neighbouring countries beginning with United Arabian Emirates in the near future.

Bombay Dyeing and Manufacturing Company reported a net loss of Rs 37.01 crore in third quarter ended December 2007 compared to a net profit of Rs 7.21 crore in third quarter ended December 2006. Net sales jumped by 173.5 per cent to Rs 291.60 crore in third quarter ended December 2007 over third quarter ended December 2006.

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